Positive outlook, Vietnam pepper industry is making steady progress

Pepper price today, September 15, 2024, in key regions maintained a sideways trend compared to yesterday, trading around 152,000 - 156,000 VND/kg, the highest purchase price in Dak Nong and Dak Lak provinces was 156,000 VND/kg.

Pepper price today September 15, 2024: Positive outlook, Vietnam's pepper industry is making steady progress

Accordingly, the price of Dak Lak pepper was purchased at 156,000 VND/kg, stable compared to yesterday. The price of Chu Se pepper (Gia Lai) was purchased at 154,000 VND/kg, stable compared to yesterday.

In the Southeast region, pepper prices today remained stable compared to yesterday. Specifically, in Binh Phuoc, pepper prices today remained at 152,000 VND/kg. In Ba Ria - Vung Tau, it was at 155,000 VND/kg, stable compared to yesterday.

Thus, domestic pepper prices today recorded stability for the second consecutive day in key localities, fluctuating in the price range of 152,000 - 156,000 VND/kg, the highest in pepper growing areas in Dak Lak and Dak Nong is 156,000 VND/kg.

World pepper price today

Update on world pepper prices from the International Pepper Community (IPC), at the end of the most recent trading session, IPC listed the price of Indonesian Lampung black pepper at 7,562 USD/ton, and the price of Muntok white pepper at 9,121 USD/ton.

The price of Brazilian ASTA 570 black pepper remained at $7,400/ton. The price of Malaysian ASTA black pepper was at $8,800/ton; the price of this country's ASTA white pepper reached $10,900/ton.

Vietnam black pepper price is traded at 6,800 USD/ton for 500 g/l; 550 g/l at 7,100 USD/ton; white pepper price at 10,150 USD/ton.

IPC commented that the pepper market in the second week of September showed a positive outlook, with no market recording a decrease. After being reported stable in the past 2 weeks, both domestic and international Indian pepper prices tended to increase this week.

In the context of high pepper prices and favorable consumption markets, Vietnam's pepper export turnover is likely to exceed 1 billion USD this year, marking the return of this spice after 6 years of absence from the group of billion-dollar items.

With positive signals from the market and the efforts of businesses, the Vietnamese pepper industry is making steady progress. However, to maintain this growth momentum, businesses need to proactively adapt to market fluctuations, improve product quality and expand the consumer market.

According to Phuoc Thinh Import-Export Joint Stock Company (Ptexim), last weekend (Saturday and Sunday), demand from China increased sharply, making the market more vibrant. This helped domestic pepper prices continue to be positively affected and increase from the beginning of the week.

Along with the domestic market's upward trend, despite a recent downward adjustment, Vietnam's pepper export prices still increased during the week. The highest increase was for white pepper, currently above the 10,000 USD/ton mark.

Since the beginning of the month, demand from China has returned with immediate orders of large quantities of 3,000-4,000 tonnes, to make up for the shortage of raw materials as global pepper production is expected to continue to decline over the next few years. The Middle East market has also seen relatively large demand for orders, immediately after selling off cheaper import stocks earlier this year.

Domestic pepper price on September 15 , 2024